This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Breakout Stocks: Must-See Charts

Pactera Technology

One name that's trending very close to triggering a near-term breakout trade is Pactera Technology (PACT), which provides business/IT consulting, solutions, and outsourcing services to multinational firms through a network of onsite and offsite delivery locations in China, the US, Europe, Australia, Japan, Singapore & Malaysia. This stock has been hit by the sellers during the last three months, with shares off by 24%.

If you take a look at the chart for Pactera Technology, you'll notice that this stock recently dropped sharply from its November high of $11.22 a share to its recent low of $6.25 a share. During that run lower, shares of PACT were consistently making lower highs and lower lows, which is bearish technical price action. That said, the stock has started to bounce off that $6.25 low and quickly move within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in PACT if it manages to break out above some near-term overhead resistance levels at $7.50 to $7.99 a share with high volume. Look for volume on that move that registers near or above its three-month average action of 121,437 shares. If that breakout triggers soon, then PACT will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $8.47 a share. Any high-volume move above its 50-day will then put $9 to $10 a share into focus for shares of PACT.

Traders can look to buy PACT off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $7 a share. One could also buy off strength once PACT takes out those breakout levels with volume and then simply use a stop that sits a few percentage points below $7.50 a share.

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,915.07 -70.54 -0.42%
S&P 500 1,964.68 -8.15 -0.41%
NASDAQ 4,396.2040 -22.83 -0.52%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs